Azarga Metals Corp. on March 27 announced an updated resource estimate for its Unkur copper-silver project in Russia that showed increases for both tonnage and grades.
The project now hosts inferred resources of 62 million tonnes at 0.53% copper and 38.6 g/t silver for 328,600 tonnes of copper and 76.8 million troy ounces of silver at a 0.3% copper equivalent cutoff. The updated model, which was based on 4,580 meters of drilling and 186 meters of channel sampling, represents a 47% increase in tonnage as compared to the maiden resource released in April 2017. Both copper and silver grades also increased marginally.
Azarga attributed the increase to the inclusion of mineralized zones that were left out in the previous estimate. Current work related to a preliminary economic assessment for Unkur also provided a more detailed understanding of the potential operating scenarios for the project and associated costs.
The company again touted the potential to further increase the resource beyond the current estimate as the mineralization remains open in both directions along strike.
The preliminary economic assessment for Unkur, which will assess the mineralization potentially recoverable via open pit methods, is on track for completion in the next two months.